2008-10-06 19:34:01 -
www.youwalkaway.com - RMS - www.rms-biz.com (for You Walk Away) Jason Kirshner/Shana Starr 949.579.9569 x801/802 Jason-PR@RMS-Biz.com / shana-PR@RMS-Biz.com You Walk Away, www.youwalkaway.com, a company that helps families facing foreclosure, has announced a new product, the Forensic Loan Documentation Review(sm) and Loan Modifications programs designed to help beleaguered home owners during the housing crisis.
The forensic review is a comprehensive investigation of the documentation of a homeowner's existing loan. The San Diego-based firm notes that well over 80% of the audits recently performed on ARM loan documents revealed major TILA (Truth in Lending Act), RESPA (Real Estate Settlement Procedures Act), predatory lending practices and real estate/mortgage fraud violations.
"The Forensic Loan Documentation Review and Loan Modifications programs have put a big spotlight on how the average homebuyer was abused during the mortgage craze," said principal and co-founder Chad Ruyle. "The attorneys we work with go over the loans in the program to look for violations and for APR (annual percentage rate) hikes that are often misquoted. This allows the homeowner to possibly go back to the lender for a loan modification, often saving the home and the homeowner from the foreclosure process."
The high number of loan violations uncovered did not surprise the founders of You Walk Away. "Many homeowners got pressured into signing loan documents with much higher rates and fees at the closing than what was disclosed on their Good Faith Estimates," said Jon Maddux, CEO. "This program is another way for families to be able to keep their homes if they feel they were misled by predatory lending practices."
Maddux went on to describe the program, "In some cases if people were simply overcharged by $30 on the final HUD-1, or if the APR was higher by just .125% than what was originally disclosed, this may give the lawyers leverage when negotiating with the lender to grant a beneficial loan modification and ultimately save their home."
All of the attorneys used by YouWalkAway.com for the forensic program have been pre-screened and pre-selected. Fees for the program are based on the loan amount. For more information, please telephone: 877-878-9255.
ABOUT YOU WALK AWAY
You Walk Away, LLC is located in San Diego and run by a team with over 50 years of combined real estate and legal experience. It is the objective of You Walk Away, LLC to empower homeowners who purchased their homes at the peak of the real estate market to take control of their financial future. We strive to help people understand their rights and know their options so they do not feel helpless.
New Program Finds over 80% of ARM Loans Have Errors When Reviewed
by Lawyers - Often Opening Up Options for Loan Modifications
